Why Rent Agreement Is Only For 11 Months

When a property is rented for 24 months at a monthly rent of Rs20,000 for the first 12 months and Rs22,000 per month for the following 12 months. The registration fee for this agreement would be: 2% of the average rent for 12 months: Rs5,040, (average monthly rent is rs 21,000, average annual rent is 21000 * 12 and 2% is Rs5,040). As already mentioned, a lease sets the number of clauses such as the description of the property, the amount of rent, the deposit and so on. It shall also mention the circumstances in which the contract may be terminated. It can be said that a contract originally concluded to protect the interests of both parties can also be used as evidence in the subsequent dispute. Case I: Stamp duty in Delhi, for example, is 2% of the average annual rent plus the amount of the guarantee. If the monthly rent is Rs 10,000. The annual rent would be Rs 1,20,000. As a result, the stamp duty is 2% of Rs 1,20,000, which is equivalent to Rs 2,400, plus Rs 100 for deposit, which gives the total amount of Rs 2,500. This lease is extended for a further 11 months and in this way, further complications from both parties are avoided.

In Haryana, stamp duty on leases varies between 1.5 and three percent of the average annual rent, depending on the rental period mentioned in the document. .